Ethereum

BlackRock

The U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" target="_blank" rel="noreferrer noopener">SEC</a>) has again postponed the deadline for a decision on <a href="https://crypto.news/tag/BlackRock/" target="_blank" rel="noreferrer noopener">BlackRock</a> and <a href="https://crypto.news/tag/Fidelity/" target="_blank" rel="noreferrer noopener">Fidelity</a>‘s applications to launch Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) spot ETFs. 
Information about the application appeared on the regulator’s <a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-99665.pdf" target="_blank" rel="noreferrer noopener">website</a>. The SEC once again postponed the deadline for consideration of the application and requested comments from market participants. 
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 “The Commission has reached any conclusions concerning any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to comment on the proposed rule change.” <cite>SEC statement</cite>
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The first postponement of the decision on applications was recorded in January 2024. The March postponement was the second. The SEC may change the decision date on applications three times in total. 
According to Bloomberg analyst James Seyffarth, the instrument could hit the market on May 23, 2024. This day marks the deadline for the SEC to issue a decision on VanEck’s application to launch a spot Ethereum-<a href="https://crypto.news/tag/etf/">ETF</a>. 
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 SEC just delayed <a href="https://twitter.com/InvescoUS?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@InvescoUS</a> &amp; <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@galaxyhq</a>'s <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Ethereum</a> ETF. 100% expected and more delays will continue to happen in coming months. The only date that matters for spot <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ethereum</a> ETFs at this time is May 23rd. Which is <a href="https://twitter.com/vaneck_us?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@vaneck_us</a>'s final deadline date <a href="https://t.co/gkVZL2QuPK" target="_blank">pic.twitter.com/gkVZL2QuPK</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1754941423411949596?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 6, 2024</a>
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In February, the American investment fund Franklin Templeton, which manages $1.5 trillion in assets, joined the list of applications to launch an Ethereum-ETF. The company plans to entrust the storage of ETH to the <a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noreferrer noopener">Coinbase</a> exchange as a custodian. Units of the Franklin Ethereum ETF will trade on the Chicago Board Options Exchange (<a href="https://crypto.news/tag/CBOE/" target="_blank" rel="noreferrer noopener">CBOE</a>). 
Meanwhile, the SEC’s decision did not affect the price of <a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a> in any way. The second-largest cryptocurrency by market cap is up more than 7% over the past 24 hours, trading above $3,700 at the time of writing, according to data from <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>. 
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 <img loading="lazy" decoding="async" width="1024" height="584" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-05-at-09.42.41-1024x584.png" alt="SEC postpones decision on BlackRock and Fidelity's Ethereum spot ETF - 6" class="wp-image-14255454">
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 Source: CoinMarketCap
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The growth of ETH followed the rapid rally of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) – on March 4, BTC came as close as possible to its all-time high, reaching $68,770. 
 Read more: <a href="https://crypto.news/spot-ethereum-etf-issuers-sec-march/"> Spot Ethereum ETF issuers to meet with SEC in March </a>

SEC postpones decision on BlackRock and Fidelity’s Ethereum spot ETF

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